Economic conditions are improving in Iowa and across the Midwest, according to the latest Creighton University survey of supply managers here and in eight other states. Creighton economics professor Ernie Goss says the region has had five straight months with a rising employment index, while the region’s manufacturing sector saw a boost in job growth by 8,600 jobs in the past year.
Goss says Iowa and three other states — Nebraska, Oklahoma and South Dakota — all lost manufacturing jobs over the past 12 months, while the remaining five states in the survey more than offset the losses. The October survey shows the employment picture is in something of a holding pattern.
The survey uses a zero-to-100 scale where 50 is considered “growth neutral.” Goss says Iowa’s overall score rose to nearly 57 in October, up from just over 54 in September. One of the world’s largest A-I companies will be going public soon, which Goss says is already causing ripple effects.
Triple-A says gasoline prices are still averaging four dollars a gallon in Iowa, about 16 cents below the national average. That average pump price in Iowa is almost a dollar and a quarter higher than a year ago.
According to data from the U.S. Bureau of Labor Statistics, Goss says the Iowa manufacturing economy shed 700 jobs over the past 12 months.
